Alps Advisors Inc. Boosts Position in Akebia Therapeutics Inc (AKBA)

Alps Advisors Inc. increased its position in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) by 118.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 220,395 shares of the biopharmaceutical company’s stock after buying an additional 119,447 shares during the quarter. Alps Advisors Inc.’s holdings in Akebia Therapeutics were worth $1,219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AKBA. Abrams Capital Management L.P. acquired a new position in Akebia Therapeutics during the 3rd quarter worth approximately $9,883,000. Clearbridge Investments LLC raised its stake in Akebia Therapeutics by 787,904.7% during the 3rd quarter. Clearbridge Investments LLC now owns 1,016,526 shares of the biopharmaceutical company’s stock worth $8,976,000 after buying an additional 1,016,397 shares during the period. BlackRock Inc. raised its stake in Akebia Therapeutics by 16.7% during the 2nd quarter. BlackRock Inc. now owns 5,015,035 shares of the biopharmaceutical company’s stock worth $50,050,000 after buying an additional 717,328 shares during the period. Morgan Stanley raised its stake in Akebia Therapeutics by 35.7% during the 3rd quarter. Morgan Stanley now owns 1,887,436 shares of the biopharmaceutical company’s stock worth $16,666,000 after buying an additional 496,069 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in Akebia Therapeutics during the 3rd quarter worth approximately $4,006,000. 71.03% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on AKBA. Zacks Investment Research downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 10th. Finally, ValuEngine downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Akebia Therapeutics presently has a consensus rating of “Hold” and an average price target of $14.86.

Shares of Akebia Therapeutics stock opened at $6.48 on Tuesday. The company has a market capitalization of $353.34 million, a PE ratio of -3.66 and a beta of 1.35. Akebia Therapeutics Inc has a 52 week low of $5.20 and a 52 week high of $15.37.

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Akebia Therapeutics Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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